Sindh plans to offer land to US investors

KARACHI, Dec 3: Christopher H Johnson, Vice chairman Council of American Universities Abroad during a visit to Karachi surveyed prospects of investment in Sindh to invite US entrepreneurs to invest in pharmaceutical, auto, agriculture and energy sectors. During his stay in Karachi, the US consultant on investment visited Site Association of Industry, Korangi Industrial Area, Karachi Chamber of Commerce and Industry and E-Commerce Gateway where he was given detailed briefing on investment opportunities.

Industries Secretary Zamir Ahmed Khan told Dawn that Mr Christopher, who is based in Riyadh, has promised to persuade companies operating in Saudi Arabia to invest in Pakistan which has cheaper labour, huge resources and large customer base.

He agreed to inform the US investors about manufacturing opportunities that exist in Pakistan for local consumption of products besides a huge surplus for exports to the neighbouring Afghanistan and Central Asian states.

The secretary said that the Sindh government would offer land to US investors in large industrial estates, including a new estate being developed in Larkana and one-window operation facility.

SAI chairman Abdul Wahab Lakhani told Dawn that the US consultant was informed in a briefing about chances for setting up manufacturing units in Site where prime land is available for the purpose.

He said that new units are being set up in the area by dismantling huge textile and other units.

Mr Christopher promised that he would convince US importers and investors to visit Pakistan to place orders and set up joint ventures in Sindh where there is no law and order problem.

In a briefing at Korangi Association of Trade and industry, chairman Johar Ali Qandhari informed the US consultant that there was great scope of investment in lucrative pharma industry which contributes 2.2 per cent of the country’s GDP.

There are 455 licenced pharmaceutical manufacturers in Pakistan, including 29 MNCs.